And they wonder why people are upset

I attended part of yesterday’s tea party at the Gold Dome, and a couple of things were apparent: The crowd was significantly smaller than last year’s massive rally (suggesting in part that Sean Hannity > Neil Cavuto as a crowd attraction), but its members remain passionate if the conversations I had are any indication. I also think it would be a mistake to view the smaller size as an indication of a waning movement, if only because I find it hard to believe that people who were upset last year about the stimulus and bailouts would be pleased with the direction Washington’s taken since then.

A lot of what was said by the speakers and written on the signs was, a year after the first big rallies, pretty much predictable. That’s not to say it’s stale or somehow bad; it’s just that the message and the motivation haven’t really changed. As for the buzz that there would be infiltrators trying to make the tea partiers look bad, there seemed to be none of that in Atlanta. I saw only a couple of counterprotesters holding pretty lame signs (”I’d rather be watching ‘Glee,’ ” one of them said, and no one was stopping her from doing just that). At other tea parties, the participants dealt with the faux tea partiers in their midst calmly and prudently.

With that, I’ll finish with a cartoon from Reason.com that smartly sums up why so many Americans are unhappy with the way the country has been run.

bokmeltdown

139 comments Add your comment

Bubba

April 16th, 2010
12:21 pm

Let’s hope the tea party zeal translates into voters at the polls in November. My question for the tea party members and other conservatives who are justifiably upset by the direction of the country is thiss: how many of you stayed home in November ‘08 rather than vote for McCain. If you did, you share the blame.

The Tar and Feathers Party

April 16th, 2010
12:24 pm

FROM TODAYS AJC: SEC pins recession on Wall Street firm
Lawsuit claims Goldman Sachs largely responsible for financial crisis.

THIS IS WHAT I HAVE BEEN SAYING ALL ALONG. BUSH AND HANK PAULSON COVERED UP FOR AND PROTECTED GOLDMAN ALL ALONG. THE AXIS OF EVIL RUNS FROM WALL STREET TO K STREET. TIME TO SHUT IT DOWN.

The Tar and Feathers Party

April 16th, 2010
12:26 pm

AFTER 8 LONG YEARS OF REPUBLICANS LOOKING THE OTHER WAY WHERE GOLDMAN AND THEIR ILK WERE CONCERNED, THE TEA PARTY PEOPLE NEED NOT VOTE REPUBLICAN. JOIN THE TAR AND FEATHERS PARTY, WE ARE INTO REVENGE.

Bubba

April 16th, 2010
12:26 pm

Calm down, T&F. Did you bother to read the story, or just the headline? I don’t think they’re “pinning” the recession on Goldman.

JohnnyReb

April 16th, 2010
12:31 pm

Bubba – Not too worry, the Tea Party has supporters who can’t come to the rallies because they are working, but will take the time to vote in November (like me).

Tar and Feathers – don’t believe a word from the SEC; that’s the same group who ignored the warnings about Madof. The root of the financial breakdown can be traced to our own peanut farmer president who started the program to put people in housing the could not afford. Presidents since him let it continue, but Boozo Clinton turned up the pressure with Janet Reno intimidating banks to make more sub-prime loans. From that point, the loan packaging, etc. go out of hand and there is no excuse for that, but it was kinda like giving a kid a gallon of icecream and telling him to eat only a few scoops. Progressives who favor government control of everything won’t agree.

The Tar and Feathers Party

April 16th, 2010
12:34 pm

I support seizing all Goldman assets, arresting each and every member of the firm, seizing all records and computers, and lets have a big public trial. Destroy the Axis of Evil!

joe joe

April 16th, 2010
12:36 pm

The Goldman Sachs thing is a dog & pony show.
The dirty little secret is that Wall Street Exec’s(not the rank & file workers) are hooked in with the govt & are liberal.
I don’t need any analysis or comments from the supposed brainiacs about this little game that they are playing on us.
GS knows that they will be totally fine in the end & Obama gets whatever he wants.
I tell ya, the Big 3 (Media, Govt & Wall St Exec’s) is sickening, joined at the hip & very liberal.
They’re all buddies that hang out & socialize together. I’m sure they will all have a nice summer together in the Hamptons laughing there arses off on how they continue to screw us.

The Tar and Feathers Party

April 16th, 2010
1:00 pm

So joe joe, you would expand the axis of evil to run from Wall Street, through Madison Avenue, to K-Street? I can’t argue with that, so I agree.

jopar

April 16th, 2010
1:02 pm

Enter your comments here”The dirty little secret is that Wall Street Exec’s(not the rank & file workers) are hooked in with the govt & are liberal.”
Now there is a well kept dirty little secret, you’ve a brilliant imagination, JJ.

DannyX

April 16th, 2010
1:05 pm

It’s obvious, the Tea Party has lost its steam. The economic miracle Obama and the Democrats have pulled off has mortally wounded them. This coming off the big health care let down. The backlash was all but a Tea Party dream. The level of opposition was way overstated.

Your 15 minutes are up Tea Party.

scrappy

April 16th, 2010
1:06 pm

What makes me so upset with the Tea Party in particular, and what is summed up in your cartoon, is that both parties have been doing this! Repubs are just as much to blame for writing nonsense bills and having a hey day with the taxpayer monies. The Tea Party only became a “movement” after Obama won – which to me equals – they lost control and are now having a 2-yr old-like tantrum over it. (The author of the Tea Party Contract stated he began drafting the contract right after Obama won – not after Obama actually did anything)

If everything in the past year had turned out the same – same taxes – sames legislation – same everything – except McCain won – would the Tea party be in existence? (this is a real possibility considering McCain’s views on the campaign trail)

JohnnyReb

April 16th, 2010
1:11 pm

DannyX – you are wishful thinking! The best indication of Tea Party folks that will translate into an outcome, those that will vote the same, are political polls and broadcast ratings. All the polls show sustained resistance to Obama and the Dem agenda. Fox News has ratings that dwarf CNN, MSNBC and legacy broadcasting. Membership to the The Heritage Foundation has jumped from around 270K to over 650K since Obama took office. Yes, the writing is on the wall, but it exactly opposite than you state.

joe joe

April 16th, 2010
1:14 pm

Yes T & F, the connection from K Street to Wall St management is incestuous. But the media & the politicians are right there in the middle of it. That group of people are all in it together.

Hey jopar, please debate my point about how close these people are. If you don’t know that these people are all friends you have not been paying attention.

The Tar and Feathers Party

April 16th, 2010
1:17 pm

Joe Joe, I support President Obama, but I worry that tiny tim geithner is owned by the new york crowd. When push comes to shove, he will side with Wall Street.

Kevin O'Keefe

April 16th, 2010
1:22 pm

Tar and Feather, you have got it all wrong. First, the problem with Goldman Sachs actually began with Fannie Mae and Freddie Mac back in 1998. First you had the repeal of Glass-Steagall which kept retail, commercial, insurance and investment banking segregated. Secondly, Bill Clinton along with Andrew Cuomo, then Sec of HUD, worked a deal with Republicans that if $2.8 trillion in low cost mortgages would be made available to minorities then he, Clinton, would sign the Graham, Leach, Bliley Act which repealed Glass-Steagall. This stroke of the pen by Clinton immediately created the Dot Com or Tech Bubble because now every bank could get into the underwriting business and is how the garage companies like DogFart.com became publically traded companies capitalised in the 100s of millions when it nothing but a one room daisey-chained computer server operation run by 2 individuals. The reason Clinton did this was Southern Christian Leadership organization had long argued that minorities were discriminated against when it came to getting loans because many did not have verifiable income nor did they even own a bank account. Well Fannie and Freddie solved that problem and they went from backing approximately 8% of the mortgage market in 1998 to roughly 60% by 2007. In return, home ownership went from a 100 year historical average of just over 50% before Clinton took office to almost 70-75% by 2007 in 15 short years. This debunked the law of large numbers reality. Fannie and Freddie were able to do this because of the financial derivative tools of securiting the high risk loans as well as using credit default swaps which had come on the scene in 1994 after a JP Morgan investment banker convention in Boca Raton, FL which made everyone believe that the entire system was safe from implosion as the other banks were counter party to each others risk. What no one thought about was a complete systematic collapse at the time. However, in 2004 GW Bush’s administration actually tried to have congress investigate Fannie and Freddie as they did see the possiblity of a collapse. It was good times though and Sen Chris Dodd and Rep Barney Frank saw no need to disrupt a wealth transfer program which was working as they saw it as intended. Minorities were buying homes no money down, no verifiable income and no job in some cases. They could stay in the home for a couple of years paying interest only and walk away with a 20 -30% profit. In short, the situation was not caused by Republicans and certainly not G W Bush. The Democrats were up to their eyeballs in what became the housing and credit crisis.

Here, I have enclosed and article carried in every major news paper from 1999 that raves aout Clinton’s little housing project that I described.

http://findarticles.com/p/mi_pwwi/is_20050229/ai_mark07000832/

Guy Incognito

April 16th, 2010
1:25 pm

Yes, GS is culpable, but then the question is, “Why was the paper they were pushing toxic”?

Answer…….People in homes, who should have been life-long renters. That’s why

Keep up the good fight!

April 16th, 2010
1:27 pm

“faux tea partiers” — did not know that there was a litimus test or some pledge. Apparently you have to agree on all points to have a voice or to attend? What exactly is the test Kyle? How do you determine who is “faux” and how they are “dealt with”? If there are only true tea partiers “allowed” and a KKK guy is a part…I guess that means that all tea partiers believe that?

You cannot have it both ways Kyle. Tea partiers cannot disown and “deal with” a person in the protest and say they “dont represent my interests” and “faux partiers” and then claim there is not a “test” or that those who remain do not represent them. Where is the “party pledge”.

The Tar and Feathers Party

April 16th, 2010
1:27 pm

Kevin O’Keefe: Strange that 90% (by dollar volume) of the defaults are to white folks, not blacks. I think you are just trying to muddy the waters, to protect the wall street crooks.

Linda

April 16th, 2010
1:28 pm

Kevin@1:22, Your article can’t be found. Please retype it. Thanks.

scrappy

April 16th, 2010
1:29 pm

What makes me so upset with the Tea Party in particular, and what is summed up in your cartoon, is that both parties have been doing this! Repubs are just as much to blame for writing nonsense bills and having a hey day with the taxpayer monies. The Tea Party only became a “movement” after Obama won – which to me equals – they lost control and are now having a 2-yr old-like tantrum over it. (The author of the Tea Party Contract stated he began drafting the contract right after Obama won – not after Obama actually did anything)

If everything in the past year had turned out the same – same taxes – sames legislation – same everything – except McCain won – would the Tea party be in existence? (this is a real possibility considering McCain’s views on the campaign trail)

Kevin O'Keefe

April 16th, 2010
1:29 pm

Tar,

It won’t let me link the article. So Google: 1999 Homeownership Rate Hits Record Annual High of 66.8%

There you will find it. Hope in enlightens you about what really happened and not what you wish had happened. The only way to solve problems is to look at what really caused then in totality. Then and only then can we collective come up with a viable solution.

Kevin O'Keefe

April 16th, 2010
1:33 pm

Tar actually, article after article has been printed both here in Atlanta in the AJC and in the NY Times that the Black Community has been hit the hardest by the mortgage crisis. I’m not sure where you get your information. President Obama has said the same thing. Maybe you are right and the press and Obama has it wrong.

CJ

April 16th, 2010
1:38 pm

Despite the fact that 95 percent of Americans received tax cuts last year, the tea partiers gathered to whine about having received imaginary tax hikes in a country having among the lowest tax burdens of all developed nations.

I continue to be amazed that so many would allow themselves to be led around by the nose by the fact-challenged right-wing noise machine.

Kevin O'Keefe

April 16th, 2010
1:46 pm

CJ, federal taxes went down due to the Bush Tax cuts which expire in January. State, local and property taxes have soared. In Atlanta, property taxes went up around 40%. Remember that most middle class people in those developed nations to which you refer don’t own their dwelling they lease directly from the government. So comparing our system to theirs is a little off. There is good and bad no matter which system you choose.

scrappy

April 16th, 2010
1:52 pm

Kevin – Will expire in next Jan. or already did? Either way, Bush cut taxes at a time when he also went to war with 2 countries, not usually a good idea, and the deficit skyrocketed. Isn’t one of the Tea Party contracts to balance the budget? Guess as long as you are a GOP then it is ok.

State, local, and property taxes are not exactly what the Tea Partiers are protesting. There protesting is aimed at the federal government. Not that I like that the State taxes keep going up, but they should focus their protests to the correct place.

Keep up the good fight!

April 16th, 2010
1:57 pm

Let me give you some more buzz Kyle. Your tea party is sponsored by David Koch and Americans For Prosperity. Why is that? Why is he spending millions?

Kevin O'Keefe

April 16th, 2010
2:11 pm

Scrappy, Tea Partiers were just at the Georgia State Capital yesterday. I don’t think that constitutes complaining to the fedreal government. I live in Atlanta and I can tell you that most are complaining about property taxes including whites, blacks, conservatives and liberals. So you are wrong to assume it is only directed at the ferderal government. Also, raising taxes has never increased the federal coffers. Wars…Well let’s see how many Democrats have waged war:

War of 1812 – James Madison – Democratic Republican (Today is the Democratic Party

Civil War – Abraham Lincoln – Republican – Southern Democrats succeeded from the Union and fired the first shots of the war in SC

WWI – Woodrow Wilson – Democrat
WWII – FDR
Cold War – Harry S Truman – Democrat – Inventor of the Truman Doctoran and Domino Theory
Korean Conflict – Harry S Truman – Democrat – Harry went to war without approval of congress
Vietnem – JFK and LBJ – Democrats – A Republican Richard M Nixon got us out of that war
Persian Gulf 1 – George Bush – Republican
Gulf War 2 – GW Bush – Republican
Afghanistan – GW Bush – Republican

Also, Since WW1 Democrats have controlled congress 66 years to Republicans 16 the other years it was equally divided. So tell me again who is responsible for wars and the shape of the country?

Finally, the last Party to balance the budget was the Gingrich Republicans.

DannyX

April 16th, 2010
2:13 pm

My property tax went up $300 last year. The same amount our Republican state government withdrew in property tax support. At the same time the state handed out a billion dollars in special interest tax breaks to their business buddies.

Poor ethics and incompetence rule the Republican party in Georgia. An easy target for the Tea Party? The fact that the Tea Party looks the other way says a lot. The big bad Georgia Tea Party is paralyzed by the crooked lobby influence in it’s very own backyard.

Linda

April 16th, 2010
2:16 pm

To add to Kevin’s comment….
The fed. govt. back in 1934 began the process of redlining, preventing lending in neighborhoods they considered risky, printing & distributing the maps to real estate agents & lenders.
In 1977 community organizers, ACORN-type groups, convinced Carter to reverse the trend with the passage of the Community Reinvestment Act, but it only applied to banks.
In 1995 Clinton strengthened it to apply to all lenders. Congress, led by Dodd & Frank, required Fannie Mae & Freddie Mac (Government Sponsored Enterprises) (GSEs) to reduce their lending standards. Countrywide & other mortgage companies soon joined their lead.
Mortgage companies originated the loans, sold them to secondary lenders such as Fannie & Freddie, who packaged them with prime loans & sold them to big banks on Wall St. as mortgage investments/securities.
Developers, builders, real estate companies, mortgage companies, home buyers, real estate investors, tax departments, etc. were profiting until the real estate bubble burst. Who would have ever thought that buyers with no down payment, no job & bad credit could not afford to make their payments, especially when the adjustable rate mortgages adjusted?
Republicans! In 4/01, Bush’s budget request for ‘02 said that Fannie & Freddie posed a “potential problem” & if either were in trouble, it could “cause strong repercussion in the financial markets.”
Republicans introduced bills in both ‘03 & ‘05 to rein them in.
Frank said on 9/13/03, “I think we see entities who are fundamentally sound financially…The more pressure there is there, then the less I think we see in terms of Affordable Housing…”
Greenspan said on 2/24/04, “If we fail to strengthen the GSE Regulation, we increase the possibility of insolvency in a crisis. We put at risk our ability to preserve safe & sound financial markets in the US.”
Dem. Sen. Charles Schumer, said on 4/7/05, “Things are good in the housing market. Why are people entertaining radical change?”
By the beginning of ‘08 the GSEs had issued over $4 trillion in loans.
TARP, the toxic assess relief program has not bought a dime of toxic assets.

(They tried to rein in Fannie & Freddie in both 2003 & 2005.

Linda

April 16th, 2010
2:29 pm

CJ@1:38, The Economic Stimulus Bill where taxpayers got our tax cuts was not free. It cost almost a TRILLION DOLLARS & placed a burden on each taxpayer.
The taxpayers who make $50K & got a tax cut of $807 but owes $1405.
The taxpayers who make $75K & got a tax cut of $878 but owes $3783.
The taxpayers who make $200K & got a tax cut of $1138 but owes $10,646.
Instead of the Economic Stimulus bill, he could have cut the payroll tax for 2 YEARS & come out cheaper. Imagine what that would have done to the economy.
The average income is about $50K. Most people would not even notice a tax break of $10 a week.

Jefferson

April 16th, 2010
2:33 pm

Did the pawns eat prawns at the party?

Intown

April 16th, 2010
2:44 pm

I saw the Tea Party at the Capitol. It was underwhelming to say the least. The most irritating thing was all the folks who are co-opting symbols from the Revolutionary war period (e.g. – Don’t tread on me flags) to make them stand for something that they do not. Overall, it looked like a surprisingly weak showing for Georgia’s retardfest.

Linda

April 16th, 2010
2:47 pm

scrappy@1:52, You said, “Bush cut taxes at a time when he also went to war with 2 countries, not usually a good idea, & the deficit skyrocketed.”

By 2/09, those 2 wars had cost us about $800 Billion dollars fighting for 15 years, 8 years in one & 7 years in the other.

That didn’t stop Obama & the Dems from spending almost the exact same amount of money 3 wks after he took the oath with a bill they didn’t even take the time to read, when we were still fighting both of those wars, one of which he later escalated. That bill also included tax cuts which Obama was bragging about today.

joe joe

April 16th, 2010
2:48 pm

T & F if you are supporting a politician, President Obama in this case you are going to be sadly disappointed. I wouldn’t trust 99% of them regardless of what side of the aisle they are from.
These people only care about themselves & Obama is the most narcissistist of all of them.
Just listen to how mant times he says “I” in a speech.
Unfortunately we elected a guy that has never had a private sector job. He has no management experience.
How do we have a lawyer in control of trillions of dollars & the dude has never done a business plan.
Heck I have more economic experience than him & I’m a regular nobody.
If we don’t get more business people in power instead of attorneys we are facked.

The Tar and Feathers Party

April 16th, 2010
2:51 pm

Kevin O’Keefe: The Black community has been hit the hardest because they are the poorest. That does not mean they borrowed the most and defaulted on the most. Poor people with loans less than 100K could not have put us in this trillion dollar disaster, it took upper middle class people making 90K and up buying 500K house they could not afford, in hopes of selling a few years later for a 100K more.

scrappy

April 16th, 2010
2:52 pm

Ok – so the people at the State capital are fine, but what about the thousands that converged on Washington yesterday to protest? And all of the rhetoric coming from Palin about the Obama administration, I don’t think I am wrong in assuming they are protesting the federal government. I also don’t think I am wrong in assuming that this (tea partying) wouldn’t be happening if a GOP member had won the white house and done the exact same things.

Thanks for the history lesson, but it has no bearing on the blog here or the present economy situation as to which president and what party started a war in the 1800s. A current war, which is underfunded, however, does have bearing on the current economy.

Truth Matters

April 16th, 2010
2:57 pm

O’Keefe, The black community can be hit the hardest without being the largest number of cases. Blacks make up less than 8% of the US population,but like many things are portrayed as the main beneficiaries of public assistance.When most people think of welfare(Food Stamps) they think black people. Now it has been true that many in the Black Community have been affected by the mortgage crisis and the effects have been pretty bad. Many Blacks who were affected were living in the homes they were financing which then had catastrophic results.Many of the other forclosures were in many cases 2nd or rental/investment properties. I remember how so many people went to real estate/wealth building seminars and thought they could be the next Donald Trump. So when the bubble burst many of them just walked away. After all, many of them had somewhere to live. It was much more than sub-prime mortgages going bad,Here you had banks and large companies carrying huge debts with very little liquid(reserves),you had the country spending billions on wars and once the bubble burst,it was the blame game. Everybody has some blame,many people bought homes they couldn’t afford, banks packaged bad debts into other investments,the Govt bailed out some and were responsible for encouraging these bad business practices, capitalism at its best, money rules and greed is looked at as the standard, but unfortunately when all is said and done this all started because Black people were allowed to buy homes they couldn’t afford and to make matters worst the Black President just gave Health Insurance to who else”Black People”.

scrappy

April 16th, 2010
2:59 pm

GOP raises taxes = its for our troops, it for our military, GO USA!
Dem raises taxes = they hate the USA and our socialists trying to re-distribute wealth.

GOP deficit = it was for the USA, GO USA, kill the terrorists, kill everyone.
Dem deficit = they are selling us to China, they hate the USA, they are socialists trying to re-distribute wealth

GOP healthcare = capitalism will make the USA stronger, GO USA.
Dem healthcare = they are taking away the best healthcare in the world and foolishly redistributing it everyone instead of the wealthy – they are socialists

JohnnyReb

April 16th, 2010
3:02 pm

Intown – your post shows you do not understand the Tea Party folks. I had an exchange with Jay Bookman yesterday because he did not understand why the Tea Party referred to Tyranny.

The Tea Party bases such signs as Don’t Tread on Me, and references to Tyranny on the history of the colonies separating from England. Don’t tread on me was a popular saying then. As for Tyranny, if there is not Liberty, there is Tyranny. Any number of Obama policies and bills passed since he took office show a loss of Liberty. The health care bill being likely at the top of the list.

JohnnyReb

April 16th, 2010
3:10 pm

O’Keefe and Linda – your posts are some of the best I have read on the housing and financial collapse. While the Democrats are not doctor’s, clearly they failed the “do no harm” test when forcing housing for minorities that ended up costing everyone dearly. Barney Frank, Chris Dodd, and Chuck Schumer should all be impeached, or better yet tarred and feathered. No civil, descent person endorses the discrimination blacks suffered. However, the government’s social engineering to try and mitigate that harm has ruined us all. Decent hard working people of all colors who have never harmed anyone now find themselves with no nest egg for retirement and can no longer sell their home to move to a smaller one at lower cost to live out their lives. This and this alone should result in the Dems suffering the biggest defeat of all time in November.

Linda

April 16th, 2010
3:12 pm

scrappy@2:52, You are right. The Tea Party movement is national & 99% of our protests are against the actions at the federal level.

If a GOP member had won the White House, he would not have done the exact same things. I’ve never experienced any president fighting against the Constitution & trying to turn our country from capitalism into a socialist state.

BS Aplenty

April 16th, 2010
3:16 pm

What’s the financial score, Kyle. The last time I checked Mr. Warren Buffett said the U.S. government would actually make money on the TARP program. Make money. How about that. Big bad ol’ GW Bush, Hank Paulson, Ben Bernanke, et al. had actually saved the financial services sector at no cost to the taxpayer.

Now, again, the last time I checked the U.S. government had bailed out FNMA and FHLMC to the tune of $175 BILLION and climbing. The ultimate tab for this government fiasco will be borne by the taxpayer.

So, at half-time, the score in the great financial give-away:

FNMA & FHLMC – $175,000,000,000.00 & climbing
TARP Program – $0

Peter

April 16th, 2010
3:18 pm

Hey Kyle ……… People are upset because we melted down under the BUSH / Republican watch…….

Remember the Republican Mantra is….. no regulations, let the markets sort all out !

You are a Funny Guy Kyle !

LibraryJim

April 16th, 2010
3:19 pm

Simple reason the turn out was smaller: it was a weekday/workday. Most of us in the Tea Party Movement have to work for a living. I try to save MY days off for when I need to take time with/for the family. IF it were on a Saturday, I think you would have seen a stronger turn-out.

Michael Funk

April 16th, 2010
3:21 pm

For a unique look at the Tea Party Movement, its historical context, and its most likely disposition, you may want to read an in interesting article at:

http://funks2.wordpress.com/2010/04/16/the-trip-to-nowhere-on-the-tea-party-express/

mit

April 16th, 2010
3:23 pm

tea baggers are full of it.

Kevin O'Keefe

April 16th, 2010
3:28 pm

Tar and Feather, again you assume too much. There are many more $100,000 properties than there are $500,000 ones. The GSE’s have reported that the average foreclosure is $77,935. So you still want to tell me that it is mostly $500,000 homes? your math doesn’t add up! If you read the article you would see that minorities BY FAR benefited the most during the housing boom and because of that they have also been hurt the most by the bust. As Linda said better than I, people (often minorities) were given (Ninja) loans. (N)o verifiable (I)ncome – (N)o (J)ob – or (A)ssets because black leaders had argued that using the same criteria on blacks to qualify for loans was discriminatory. This was why lending standards were dropped also as Linda said. In return for assuming that increased risk Fannie and Freddie bought those loans and repackaged them into tradeable securities which were literally sold around the world as AAA investment grade paper or shares. As fannie and feddie grew and posted astonishing returns every other bank wanted in on the game and because of the repeal of Glass-Steagall they could do it.

Scrappy,
It is the right and duty protected in the constitution to assemble in peaceful protest. If you don’t like it then don’t watch it. However, I find it odd that people didn’t mind when Bush was being protested and he deserved to be. Obama represents the opposite extreme of Bush. Most people want something more moderate in government and leadership. That is why they are there and will continue to be there until the will of the people is achieved. You don’t like it…Then find another country to plop you stuff in. We have been protesting in this country long before we were a country and we will protest long after you and I are dead! It is called freedom. Free at last…Free at last…Thank God Almighty, We are free at last…REMEMBER?

mit

April 16th, 2010
3:32 pm

o’keefe, your will of the people is just more govt. control.

Linda

April 16th, 2010
3:33 pm

JohnnyReb@3:10,
In the ’90’s, the Dems/Progressives were pushing Affordable Housing in the name of Social Justice. It caused a world-wide financial recession.

Now, in 2009-10, the Dems/Progressives were pushing Universal Health Care in the name of Social Justice.

They took the best hc system in the world that insured 85% of Americans, 95% who were happy, lumped millions more people into Medicare that’s broke, lumped billions of dollars on the states, putting our insurance companies out of businesses, taxing our manufacturers of medical devices, adding 16,500 IRS police officers, raising taxes on taxpayers, raising taxes & reducing incentives to corporations to cover their retirees, raising taxes on drug makers, adding a 6000 member army, mandating Americans to buy insurance, mandating employers to provide insurance, cutting Medicare & ignoring the Constitution.

Immigration reform will add perhaps another 12 million people with others to follow.

Peter

April 16th, 2010
3:35 pm

Scrappy………You are a funny guy like Kyle !